There are 20 pages covering the Addis Ababa Action Agenda. And while they are inevitably bubble-wrapped in diplo-speak and hat-tipping, there is a solid package of proposals nestled within. They cover domestic public finance, private finance, international public finance, trade, debt, technology, data and systemic issues. Amongst many other things, the Agenda calls for more tax and better tax (less regressive, more focused on pollution and tobacco). And it is long and specific on base erosion, tax evasion and competition and tax cooperation. It calls for financial inclusion and cheaper remittances. The draft discusses blended finance and a larger role for market-based instruments to support infrastructure rollout, as well as a new measure of “Total Official Support for Sustainable Development.” It calls for Multilateral Development Bank reform including new graduation criteria and scaling up. And it suggests a global compact to guarantee a universal package of basic social services and a second compact covering infrastructure. Finally, the draft has a good section on technology including the need for public finance and flexibility on intellectual property rights.
The Financing for Development conference in Addis Ababa in July represents one of President Obama’s last major opportunities to secure his development legacy.
Finding Cash for Infrastructure in Addis: Blending, Lending and Guarantees in Finance for Development
The total scale of incremental investment requirements in infrastructure in developing countries has been estimated at around USD 1 trillion a year, with a range of related studies suggesting numbers between $815 billion to $1.3 trillion. While all such numbers are open to considerable debate, and were not designed to measure the cost of delivering the specific SDG infrastructure targets, they suggest the likely scale of the financing challenge for an SDG agenda which includes universal coverage to adequate housing, water, sanitation, modern energy and communications technologies.
This paper focuses on invented or created technologies of the type that could (theoretically) be subject to patents and the potential for international agreements including the Addis Financing Conference to better create and share such technologies.
In September this year, world leaders will meet in New York at the United Nations General Assembly. Top of the agenda will be the passage of a resolution laying out global development goals for the fifteen years to 2030, covering progress in areas from poverty reduction to forestry preservation. They will follow on from the Millennium Development Goals (MDGs), which have become a common yardstick of global progress over the past decade and a half.